Visi Money
A recent article in InvestorPlace highlights three fintech stocks to consider adding to your watchlist in 2024. Fintech stocks have been proven to consistently outperform the market, and experts predict that the industry will continue to grow at a compound annual rate of 17% until 2030.
The first stock to consider is Global Payments (GPN). Citigroup predicts that GPN stock could see gains of 17% this year and outperform its peers. The company has several catalysts in play including a recent acquisition of EVO Payments, which is expected to be accretive and drive long-term growth. GPN stock also looks good from a capital markets perspective with an underestimated EPS growth and relative value in store.
The second stock on the list is PayPal (PYPL), which is being touted as a buy-the-dip opportunity. PYPL stock has seen a YOY slump of approximately 20%, opening up a value gap. Goldman Sachs listed PayPal as one of its top S&P 500 growth stock picks, citing the company’s sustained fundamental zeal and well-placed valuation multiples. PayPal’s future growth seems intact with its total payment volume achieving near double-digit growth in the last seven quarters. High-quality valuation multiples also make it an attractive investment.
The final stock to watch is Coinbase (COIN), a cryptocurrency exchange platform. COIN has seen significant growth in the past year due to a surge in high-risk assets and cost-cutting measures. While the company remains unprofitable, it has shown promising revenue and earnings growth, indicating potential profitability in the future. Despite its high price multiples, COIN’s resilient growth and promising end market make it an attractive investment for those interested in the cryptocurrency industry.
Overall, these three fintech stocks offer investors the opportunity to capitalize on the industry’s growth and outperform the market. Global Payments, PayPal, and Coinbase all have unique catalysts and growth prospects that make them worth considering for your investment portfolio.
